ICICI Bank issues ₹39,450m Tier 2 bonds at 7.40% coupon

ICICI Bank Limited has raised ₹ 39,450 million by issuing 3,945 unsecured, subordinated, listed, non-convertible Tier 2 Basel III-compliant bonds on a private placement basis.

Accepted by SEC EDGAR 12/01/2025 - 06:05 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

ICICI Bank Limited has raised ₹ 39,450 million by issuing 3,945 unsecured, subordinated, listed, non-convertible Tier 2 Basel III-compliant bonds on a private placement basis. Each bond has a face value of ₹ 10,000,000 and carries a coupon rate of 7.40%, with interest payable annually from the deemed date of allotment on November 28, 2025.

The bonds have a 15-year tenor, with a scheduled maturity on November 28, 2040, and a call option that the bank may exercise at the end of 10 years and every year thereafter. They are proposed to be listed on the National Stock Exchange of India Limited and are rated “CARE AAA; Stable” by CARE Ratings and “[ICRA] AAA (Stable)” by ICRA, indicating the highest credit quality within the Indian rating scale.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What type of securities did ICICI Bank (IBN) issue in this 6-K update?

ICICI Bank issued 3,945 unsecured, subordinated, listed, non-convertible, Tier 2, Basel III compliant bonds in the nature of debentures, referred to as Bonds in the disclosure.

How much capital did ICICI Bank (IBN) raise through these Tier 2 bonds?

ICICI Bank raised ₹ 39,450 million in aggregate, with each bond having a face value of ₹ 10,000,000, allotted for cash on a private placement basis.

What are the key coupon and maturity terms of ICICI Bank’s new bonds?

The bonds carry a 7.40% coupon rate, with interest payable annually. They have a 15-year tenor, maturing on November 28, 2040, subject to a call option at the end of 10 years and every year thereafter.

On which exchange will ICICI Bank’s new Tier 2 bonds be listed?

The bonds are proposed to be listed on the National Stock Exchange of India Limited.

What credit ratings did ICICI Bank’s new Tier 2 bonds receive?

The bonds are rated “CARE AAA; Stable” by CARE Ratings Limited and “[ICRA] AAA (Stable)” by ICRA Limited.

Does ICICI Bank offer any additional interest in case of payment delays on these bonds?

In the event of a delay in payment of interest or principal, ICICI Bank shall pay additional interest of 2% per annum over the coupon rate on the amounts due for the default period.

When and how will ICICI Bank’s new bonds be redeemed?

The bonds are scheduled to be redeemed at par 15 years from the deemed date of allotment, on November 28, 2040, at ₹ 10,000,000 per bond plus accrued coupon, subject to any call option exercise and the loss absorbency and write-down provisions in the bond terms.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a -16 OR

15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2025

Commission File Number: 001-15002

ICICI Bank Limited
(Translation of registrant’s name into English)

ICICI Bank Towers,
Bandra-Kurla Complex
Mumbai, India 400 051
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.

Form 20-F   X  Form 40-F      

Table of Contents

Items:

1. Other news

OTHER NEWS

Subject: Disclosure under Indian Listing Regulations

IBN

ICICI Bank Limited (the ‘Bank’) Report on Form 6-K

The Board of Directors of ICICI Bank Limited (“the Bank”) had, at its meeting held on April 19, 2025, approved fund raising through issuance of debt securities. Pursuant to the same, the Bank has allotted 3,945 unsecured, subordinated, listed, non-convertible, Tier 2, Basel III compliant bonds in the nature of debentures (“Bonds”) each bearing a face value of ₹ 10,000,000 aggregating to ₹ 39,450 million for cash, in dematerialised form, on private placement basis today to identified investors.

The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, read with SEBI Master Circular dated November 11, 2024 are enclosed herewith as Annexure A.

The bonds are rated “CARE AAA; Stable” by CARE Ratings Limited and “[ICRA] AAA (Stable)” by ICRA Limited.

We request you to kindly take note of the above information on record.

ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com Website www.icicibank.com CIN.: L65190GJ1994PLC021012 Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007. India

 

Annexure A

S. No. Particulars Remarks 1.         Size of the issue ₹ 39,450 million 2.         Whether proposed to be listed? If yes, name of the stock exchange(s) Yes, National Stock Exchange of India Limited 3.         Tenure of the instrument - date of allotment and date of maturity

Tenor: 15 years from the Deemed Date of Allotment, subject to exercise of any call option by the Bank at the end of 10 years and every year thereafter.

Deemed Date of Allotment: November 28, 2025

Date of Maturity: November 28, 2040, subject to exercise of any call option by the Bank.

4.         Coupon/interest offered, schedule of payment of coupon/interest and principal

Coupon rate: 7.40%

Schedule of Interest payment: Interest shall be payable annually from the Deemed Date of Allotment until the maturity date.

Schedule of principal payment: 15 years from the Deemed Date of Allotment, subject to exercise of any call option by the Bank at the end of 10 years and every year thereafter.

5.         Charge/security, if any, created over the assets Not applicable as the Bonds are unsecured. 6.        

Special right/interest/privileges attached to the instrument and changes thereof

None 7.        

Delay in payment of interest / principal amount for a period of more than three months from the due date or default in payment of interest / principal

In the event of delay in the payment of interest amount and/or principal amount on the applicable due date(s), the Bank shall pay additional interest of 2% per annum in addition to the respective coupon rate payable on the Bonds, on such amounts due, for the defaulting period.

ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com Website www.icicibank.com CIN.: L65190GJ1994PLC021012 Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007. India

 

8.	Details of any letter or comments regarding payment/non-payment of interest, principal on due dates, or any other matter concerning the security and /or the assets along with its comments thereon, if any	Not Applicable
9.	Details of redemption of Debentures	Redemption Date: The Bonds shall be redeemed at par 15 years from the Deemed Date of Allotment, on November 28, 2040, subject to exercise of any call option by the Bank at the end of 10 years and every year thereafter. Redemption Amount: ₹ 10,000,000 per Bond on the Redemption Date plus accrued coupon subject to the provisions of “Loss Absorbency Features”, “Permanent principal write-down on PONV Trigger Event” and “Treatment in Winding-Up, Amalgamation, Acquisition, Reconstitution etc. of the Issuer” mentioned in the Bond Trust Deed.

ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com Website www.icicibank.com CIN.: L65190GJ1994PLC021012 Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007. India

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

				For ICICI Bank Limited
Date	: November 28, 2025		By:	/s/ Prachiti Lalingkar

				Name :	Prachiti Lalingkar
				Title    :	Company Secretary